Vanke, the residential property developer at the centre of a high-profile power struggle, is planning to buy through its wholly owned private equity arm V Capital Ltd, with a $194 million loan facility, sources told Basis Point.

China’s top homebuilder will eventually hold only a 10 percent interest in the property after selling 90 percent to a third party, it said.

Vanke did not respond to an email seeking comment, while Carlyle declined to comment.

Central Plaza is a grade-A office tower in Shanghai’s central business district Huangpu, opposite to the city’s landmark Shanghai Grand Theatre.

Carlyle bought the building from Singapore-listed real estate fund Forterra Trust for $267 million in April 2013.

Meanwhile, Vanke is trying to fend off a hostile takeover by financial conglomerate Baoneng Group with a $6.9 billion deal with white knight Shenzhen Metro. However, the deal was opposed by major shareholders as it will dilute their shareholding.

Home buyers today, especially the younger generation, are increasingly warming up to the concept of ‘green homes’. These homes offer multiple benefits, not only...

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